The Punjab Infrastructure Development Board (PIDB) has barred Mumbai-based Ackruti City Ltd from participating in tenders for state government infrastructure projects for the next five years.
When asked, Ackruti’s Corporate Advisor-cum-COO Milap Bhansali said he was unaware of the development.
From the information this reporter got under the Right to Information Act, PIDB had issued a showcause notice to the company in April.
It was asked to explain within 10 days why PIDB should not bar the company due to the latter’s unfair trade practices while bidding for contracts for the development of bus terminals at Mohali and Bathinda.
Ackruti was the highest bidder for the projects, but could not comply with the agreed terms, said PIDB. Finally, the Rs 50 lakh security deposit was confiscated. The showcause notice followed.
Subsequently, PIDB gave a personal hearing to Ackruti representatives on July 8. But none appeared and another chance was given to the company. Bhansali and two legal counsel appeared before the managing director of PIDB on July 30. And raised various objections against the intended blacklisting.
Written representations were also filed. However, after examining these, PIDB says it recently passed a “well reasoned and detailed order, running into 10 pages” to bar Ackruti in the public interest.
The blacklisting order says Ackruti’s methods of operation delayed the projects in question by eight months. PIDB has also taken legal steps to ensure Ackruti gets no stay in any court without PIDB being heard.
